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Shocking research has shown gas and electric prices could rise to such an extent your energy bills could rise to as high as £5,000 per year.

The research recently published has been carried out by uSwitch.com and forecasters concluded that on current trends that energy bills could reach £4,185 by 2020, in comparison to £1,243 at the moment.

In addition to the above, the Government plan to implement smart meters in homes, which it is anticipated will cost taxpayers an extra £548 a year. Therefore, equating that the cost for gas and electric for each household could be as high as £4,733 within a decade.

The uSwitch.com analysts predict in 2011-2012 that we will see the eventual end of the recession at which time we will see a global increase in energy demand, driven by rising economies such as China and India which will put increased upward pressure on energy prices.

Ann Robinson, Director of Consumer Policy at uSwitch.com, says: “This is a wake-up call for us all. The £5,000 a year energy bill may seem like an outside possibility, but we have to remember that energy bills doubled in the last five years alone and that the huge investment needed just to keep the lights on in Britain will alone add £548 a year onto our bills. The fact is we are entering a new era of high cost energy and households will have to adapt their behaviour accordingly.

“The Government has been banging the drum for energy efficiency for a while now, but consumers have been reluctant to spend money on these measures. As a result, energy efficiency has been massively underperforming even though it is one of the biggest defences we have against escalating energy costs. We also have a competitive energy market, and yet less than 5% of consumers are on the most competitive energy plans – most people are paying far more than they have to for the energy they use.

“This has to change. My advice to consumers is to invest in making your home more energy efficient, reduce the amount of energy you use and make sure you are paying the lowest possible price for it. Big projects such as a new energy efficient boiler or home insulation can be expensive, but the savings you make through cutting the price of your energy could be re-invested into energy efficiency measures so that you reap even greater rewards in the future.

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“Don’t be put off. If cost is an issue, speak to your supplier to see if they can help – they have a pot of money available to help households with energy efficiency. Or contact the Energy Saving Trust for advice. The key thing is to start future-proofing yourself against higher energy bills now.”

HIP-Consultant.co.uk believe that the Energy Performance Certificate could further help many households identify ways of improving their household energy efficiency. It is not necessary to sell or rent your property before an assessment is carried out. The EPC will give recommendations on how you could save energy within your home.

One Response to “Prevent you energy bills rising to £5k a year”

[…] I do swap energy providers from time to time but not as often as some i have read about. It does seem to me that energy prices will rise over time at quite a fast pace. This was interesting reading though it must be remembered who produced the research. – Prevent you energy bills rising to